India Spices
Most up; jeera up on concerns of lower output, coriander down
This story was originally published at 18:38 IST on 25 February 2025
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By Taniva Singha Roy
MUMBAI – Futures contracts of jeera and turmeric rose on the National Commodity and Derivatives Exchange, while those of coriander fell Tuesday. Jeera prices rose due to concerns of lower output amid robust export demand, while coriander prices fell due to heavy carry-over stocks and bleak export demand, according to analysts at SMC Global Securities.
The most-active March contract of JEERA was up 0.6% at INR 20,890 per 100 kg due to concerns about lower output amid robust export demand, analysts at SMC Global Securities. Meanwhile, increased domestic demand ahead of the wedding season and Ramadan month also supported prices, they said. In the near term, jeera futures are likely to trade in the range of INR 20,500-INR 21,800.
The most-active April contract of CORIANDER was down 0.4% at INR 8,132 per 100 kg due to sluggish export enquiries and heavy carryover stocks, according to SMC Global Securities. However, a weak production outlook could limit the losses, the brokerage said. Total production of coriander is projected to decline 11% to 630,000 tonnes in 2025-26, SMC Global said. In the near term, coriander futures are likely to trade between INR 8,100 and INR 8,400.
The most-active April contract of TURMERIC rose 0.3% to INR 12,580 per 100 kg due to anticipation of an increase in demand in the domestic market ahead of the wedding season and Ramadan and increased export demand, according to SMC Global Securities. However, a surge in arrivals on early harvesting in Telangana could weigh on prices, the brokerage said.
Contract | Exchange | Unit (kg) | Price (INR) | Change (INR) |
Coriander Apr | NCDEX | 100 | 8,132 | (-)36 |
Jeera Mar | NCDEX | 100 | 20,890 | 125 |
Turmeric Apr | NCDEX | 100 | 12,580 | 36 |
End
Edited by Saji George Titus
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